FIFO method

Exercise 8-33 (Static) Compute Costs per Equivalent Unit: FIFO Method (LO 8-5) The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): The Remington Plant started 216,000 units and transferred out 200,000 in July. Materials costs incurred in July were $594,000 and conversion costs were $979,000 Required: Compute the cost per equivalent unit for materials and conversion costs tising the FIFO method. Note: Round your answers to 2 decimal places